Trade will be key on the agenda when Egypt’s president Abdel Fattah al-Sisi arrives in Kampala on Sunday for a one-day official visit to Uganda.
Sisi, here on the invitation of President Yoweri Museveni, will be accompanied by a trade delegation from Egypt and will hold bilateral talks and joint press conference with his host.
Uganda and Egypt aim to boost their trade relations in various sectors. Recently, Museveni commissioned the Egypt-Uganda Food Security Company, a new private beef processing company.
Egyptian investments in Uganda include Cairo International Bank, Egypt Air, Mantrac Uganda ltd, Arab Contractors, El Naser Export and Import Company and African Development Incorporation Uganda Limited.
The scope of work for Arab contractors is increasing rapidly in Uganda, with a total work value for the current moment of 25$ million.
Other prominent private sector companies started investing in Uganda and east Africa including the “Citadel Group” the leading investor in Africa, investing in the RVR $150million to modernise the main railway from Mombasa to Kampala to reduce substantially, the cost of transport and hence cost of production leading to more trade and increase the attractiveness Uganda to foreign investment.
Source: The Independent Uganda